Mini Russell Heikin-Ashi Chart & Economic Reports 7.07.2015
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday July 7, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Markets gaped heavily lower after the vote in Greece but to be honest that was about it….volume was much lighter than anticipated and price action once cash opened was NOT impressive to say the least.
Did the shorts got their hand burnt these past few years with QE? Was the FED able to “condition and scare the short sellers? or perhaps now that Greece and other European countries are facing financial crisis the market figures “maybe the FED wont raise rates this year after all?
Many questions, few answers…daily chart of mini Russell for your review below as I feel this one has been the leader recently:
One quick observation I saw: The recent down move is almost the SAME as the down move between April 27th and May 6th.
In order for this market to have a chance to move lower, we need to take the lows from last night, otherwise we may see a move up.
GOOD TRADING
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| Contract Sept. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2114.67 | 4551.92 | 18063 | 1284.57 | 97.47 |
| Resistance 2 | 2092.58 | 4494.58 | 17867 | 1267.63 | 97.17 |
| Resistance 1 | 2078.42 | 4458.67 | 17746 | 1256.87 | 96.80 |
| Pivot | 2056.33 | 4401.33 | 17550 | 1239.93 | 96.50 |
| Support 1 | 2042.17 | 4365.42 | 17429 | 1229.17 | 96.12 |
| Support 2 | 2020.08 | 4308.08 | 17233 | 1212.23 | 95.82 |
| Support 3 | 2005.92 | 4272.17 | 17112 | 1201.47 | 95.45 |
| Contract | Aug. Gold | Sept. Silver | Aug. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1187.1 | 16.16 | 59.96 | 154 2/32 | 1.1271 |
| Resistance 2 | 1180.8 | 15.99 | 58.38 | 153 2/32 | 1.1200 |
| Resistance 1 | 1174.6 | 15.83 | 55.58 | 152 12/32 | 1.1134 |
| Pivot | 1168.3 | 15.66 | 54.00 | 151 12/32 | 1.1063 |
| Support 1 | 1162.1 | 15.51 | 51.20 | 150 22/32 | 1.0997 |
| Support 2 | 1155.8 | 15.34 | 49.62 | 149 22/32 | 1.0926 |
| Support 3 | 1149.6 | 15.18 | 46.82 | 149 | 1.0860 |
| Contract | Dec. Corn | Sept. Wheat | Nov Beans | Dec. SoyMeal | Aug Nat Gas |
| Resistance 3 | 444.7 | 595.5 | 1032.42 | 348.43 | 2.96 |
| Resistance 2 | 440.3 | 595.5 | 1027.58 | 345.97 | 2.91 |
| Resistance 1 | 437.7 | 595.5 | 1021.17 | 343.13 | 2.83 |
| Pivot | 433.3 | 595.5 | 1016.33 | 340.67 | 2.78 |
| Support 1 | 430.7 | 595.5 | 1009.9 | 337.8 | 2.7 |
| Support 2 | 426.3 | 595.5 | 1005.08 | 335.37 | 2.66 |
| Support 3 | 423.7 | 595.5 | 998.67 | 332.53 | 2.58 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:18pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueJul 7 | 2:00am | EUR | German Industrial Production m/m | 0.1% | 0.9% | ||||
| 2:45am | EUR | French Gov Budget Balance | -59.8B | ||||||
| EUR | French Trade Balance | -3.3B | -3.0B | ||||||
| All Day | EUR | Eurogroup Meetings | |||||||
| All Day | EUR | Euro Summit | |||||||
| 8:30am | USD | Trade Balance | -42.5B | -40.9B | |||||
| 10:00am | USD | JOLTS Job Openings | 5.33M | 5.38M | |||||
| USD | IBD/TIPP Economic Optimism | 48.9 | 48.1 |
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
